EBITDA was $94 million, beating guidance of $80 million to $90 million, representing a 24% sequential increase and a 22% EBITDA margin, up 200 basis points quarter-over-quarter and year-over-year.
Expro reported revenue of $423 million in Q2 2025, up $32 million or about 8% from Q1 2025, exceeding guidance of $400 million to $410 million.
Expro repurchased $5 million in shares in Q2, totaling $15 million year-to-date, with $61 million remaining under the $100 million authorization.
Free cash flow on an adjusted basis was $36 million, or 9% of revenue, marking the third consecutive quarter of financial results above expectations.
Liquidity at quarter-end was approximately $343 million, including $207 million cash and $136 million available under revolving credit facility, with new credit facilities increasing total commitments to $500 million.
Segment EBITDA margins: ESSA 30% (up 400 bps), MENA 36% (down 70 bps), APAC 26% (up 500 bps).
Segment revenues: North and Latin America (NLA) $143 million, Europe and Sub-Saharan Africa (ESSA) $132 million, Middle East and North Africa (MENA) $91 million, Asia Pacific (APAC) $57 million.
Record-Setting EBITDA Margin and Robust Free Cash Flow in Q2 2025
Expro achieved its third consecutive record-setting quarterly EBITDA margin of 22%, among the top in its peer group.
Generated $36 million in free cash flow on an adjusted basis, representing 9% of revenue, exceeding expectations and demonstrating operational efficiency despite market headwinds.
Dafinchi